Seven tips to grow your client base

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Most insurance advisers and brokers are experiencing only single-percentage growth each year – yet according to recent research, small to medium enterprises still prefer to use advisers and brokers to buy insurance. Clifton Warren, of Corporate Eye Consulting, discusses trends affecting insurance advisers’ ability to grow and gives a seven step process to help build your business.

The role of adviser and broker is changing due to consumer product lines now being directly distributed by insurance companies and buyers using technology to become better informed, says Warren. In order to stay on top, advisers must also adapt – by rebalancing client portfolios.

This consists of seven basic steps, says Warren.

  1. Select a market. There are potential markets everywhere, but aim to identify one to three markets so you’re positioned as an expert. Warren recommends choosing your niche market by examing where your skill, interest and passion lie.


  1. Identify your ideal client. To do this, examine the traits of your best client you enjoy working with. Look at things like occupation, demographic and attitudes towards insurance. “The more clearly you’re able to identify your ideal client, the easier it will be to build your list and marketing communication,” says Warren.


  1. Create a value statement. A good value statement identifies what you do, for whom, why you’re different and what value you provide.


  1. Build a list. Once you have completed the first three steps, you can build a list of around 300 to 500 prospective clients to focus your efforts on. There are several ways to do this, including LinkedIn, Google, or asking friends.


  1. Create a value piece. This educates prospective clients about your value and can be downloaded from your website or sent by email.


  1. Contact. Turn your prospective clients into clients by reaching out to them, using mediums like social media or direct advertising.


  1. Recycle. Just because someone says no, it does not mean they are not a good prospect for you, says Warren. After every contact, ask if you can keep them on your mailing list for future offerings.  

See Clifton Warren’s full report here.